ARCTRUST Personal Capital acquired a seven-property, single-tenant web lease portfolio comprised of two Pinnacle Financial institution places, three CVS Pharmacy places and two NAPA Auto Elements places throughout six states. Vendor(s) and pricing weren’t disclosed.The portfolio can be provided to accredited traders as a Delaware statutory belief, ARCTRUST Change II DST.
The portfolio contains properties in North Carolina, Alabama, Kentucky, Michigan, Tennessee and Virginia. It incorporates a weighted common remaining lease time period of roughly 13.6 years, with contractual lease will increase and renewal choices throughout all belongings. Every property is leased on an absolute triple-net foundation.
“This portfolio displays ARCTRUST’s continued give attention to buying important, service-oriented actual property leased to creditworthy tenants beneath long-term web leases,” mentioned Chris Wadelin, CEO of ARCTRUST Personal Capital. “Combining nationwide retail pharmacy, automotive aftermarket, and established neighborhood banking places throughout six states offers traders a degree of tenant and geographic diversification that we consider might align effectively with the wants of 1031 alternate traders searching for sturdy earnings and capital preservation.”
